They say “Tis the season to be jolly”. Unfortunately, for some associations, owners are the exact opposite.
Recently I received an inquiry from a homeowner requesting information on how to remove the board of directors of his association. The board for his association recently sent out a proposed budget with a large increase. He does not … Read More ›
I recently served as a panelist at the Community Association Institute’s annual trade show. The topic was reasonable reserves for Associations. When looking at the long-term existence of an Association, reserve accounts are a critical topic for consideration.
If you reside in a Condominium Association, Section 9(c)(2) of the Illinois Condominium Property Act (“Act”) requires that … Read More ›
I recently spoke at a seminar regarding fiduciary responsibility of Board members. During the seminar, I explained the different legal requirements of Board members, depending on whether they serve on a Board for a condominium, townhouse or homeowners association. I inquired as to how many Board members present resided in a condominium, townhouse or homeowners … Read More ›
Although construction of new Associations has substantially decreased, a question still arises to when an Association should be turned over to the members. By turnover, we are referring to the time when the developer of the Association resigns from the Board of Directions, holds the first annual meeting and the unit owners are elected to … Read More ›